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Moody's rates Awesome loans B1, Caa1
Moody's Investors Service said it assigned a B2 corporate family rating to Awesome Acquisition Company, LP, B1 (LGD3, 37%) ratings to its $117.5 million guaranteed first-lien senior secured term loan and $15 million guaranteed first-lien senior secured revolver and a Caa1 (LGD5, 89%) $40 million second-lien senior secured term loan.
The outlook is stable
The agency said the B2 corporate family rating reflects the company's weak debt protection metrics, limited product offering and geographic concentration.
The ratings also incorporate the company's reasonable scale, substantial average unit volumes, above-average margins, committed franchisee pipeline and adequate liquidity.
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